BUY EIX @ $58.08

Buying EIX @ $58.08

2% position

EIX, like PCG, is a California utility that has been hurt by wildfire costs in recent years. That risk, blame, and cost pressure, has pushed these utilities to huge discounts relative to the utilities group. EIX trades at less than 15x P/E and yields 4.5%!

I'll take a position in EIX, the creme de la creme from a few years ago, and ride it to at least an industry-average P/E!

EIX has no gas utility exposure, has been focused on getting ready for the electrification of everything since I've known them (~2011), and is generally an amazing company. They are one of the top 5 beneficiaries of extreme electrification - for transportation, industrial, and other uses. 

This is quickly becoming a top idea and one that I'll try to be patient with - and only trade around the margins once I build a larger position.